OPEC warned on Tuesday that an oil supply glut could emerge in 2019 as the world economy slows and supply from rival producers rises more quickly than expected, building a case for cutting output at a meeting next month. FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016.
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Three years after a ban on crude oil exports was lifted, some U.S. shale producers are doing something they have never done before - lock in prices for their barrels that will find a home overseas. FILE PHOTO: Drill pipe is seen below a drilling rig on a lease owned by Oasis Petroleum in the Permian Basin near Wink, Texas U.S. August 22, 2018.
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REUTERS: Occidental Petroleum Corp is exploring a sale of its pipeline assets, hoping to fetch more than US$5 billion and free up capital to invest in exploration and production as oil prices rebound, people familiar with the matter said on Tuesday. Occidental's decision to shed the assets is the latest example of an oil company balking at the capital expenditure required to maintain U.S. pipelines, which have been plagued by bottlenecks and require construction of new networks.
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Occidental Petroleum Corp is exploring a sale of its pipeline assets, hoping to fetch more than US$5 billion and free up capital to invest in exploration and production as oil prices rebound, people familiar with the matter said on Tuesday. REUTERS: Occidental Petroleum Corp is exploring a sale of its pipeline assets, hoping to fetch more than US$5 billion and free up capital to invest in exploration and production as oil prices rebound, people familiar with the matter said on Tuesday.
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Oil prices stood near their highest since late 2014 on Tuesday, ahead of an announcement by U.S. President Donald Trump on whether he would withdraw from a landmark nuclear deal with Iran, which fueled concerns about crude supply. FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing, Oklahoma, U.S., March 24, 2016.
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Oil prices stood near their highest since late 2014 on Tuesday, ahead of an announcement by U.S. President Donald Trump on whether he would withdraw from a landmark nuclear deal with Iran, which fueled concerns about crude supply. FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing, Oklahoma, U.S., March 24, 2016.
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Global executives and traders are bracing for higher volatility in fuel markets as they expect refiners to process more light crude oil in the lead-up to new rules aimed at slashing the use of dirty high-sulfur fuel oil in global shipping. FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016.
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Enbridge Inc shares jumped as much as 6.2 percent on Thursday after North America's largest energy infrastructure company announced plans to sell CUS$3 billion of noncore assets to focus on its central business. File Photo: Pipelines run to Enbridge Inc.'s crude oil storage tanks at their tank farm in Cushing, Oklahoma, March 24, 2016.
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Enbridge Inc shares jumped as much as 6.2 percent on Thursday after North America's largest energy infrastructure company announced plans to sell CUS$3 billion of noncore assets to focus on its central business. File Photo: Pipelines run to Enbridge Inc.'s crude oil storage tanks at their tank farm in Cushing, Oklahoma, March 24, 2016.
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TransCanada Corp is making progress on cleaning up a 5,000-barrel oil spill from its Keystone pipeline in South Dakota, where a state official said on Monday the company has excavated the damaged section of pipeline. FILE PHOTO: An aerial view of an oilspill which shut down the Keystone pipeline between Canada and the United States in an agricultural area near Amherst South Dakota CALGARY, Alberta: TransCanada Corp is making progress on cleaning up a 5,000-barrel oil spill from its Keystone pipeline in South Dakota, where a state official said on Monday the company has excavated the damaged section of pipeline.
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